Zydus Lifesciences & Zydus Wellness Shares React To US FDA Approval For A Prostate Cancer Drug

Zydus Lifesciences, the Ahmedabad-based pharma giant, has started the intraday trade on Wednesday, March 19, on a positive note. This spurt in the share prices in the early session is a result of development emerging from the company.

Approval For Cancer Drug

On March 18, post-market hours, Zydus Lifesciences announced that it has received approval from the United States Food & Drug Administration or US FDA for Apalutamide, a crucial cancer drug.

In an exchange filing, the company said that it has received final approval from the US FDA for Apalutamide Tablets, 60 mg.

Here, Apalutamide is an androgen receptor inhibitor used in treating patients with metastatic castration-sensitive prostate cancer.

This particular cancer drug will be produced at Zydus Lifesciences' Ahmedabad facility.

Zydus Lifesciences Ltd Shares

When we look at the progression of the company shares in the early hours of the day trade, after starting on a positive note, the company shares dipped, shrinking the gains made in the early minutes.

At the time of writing, the rise in shares of Zydus Lifesciences stood at 0.11 per cent or Rs 1.00 per piece. This took the overall value of the company shares to Rs 903.15 per piece.

Zydus Wellness Ltd Shares

Interetingly, on the other hand, the shares of another listed company from the Zydus group witnessed a surge in its prices. In the opening hours of the day's trade, the shares of Zydus Wellness Ltd rose.

In fact, the rise amounted to over 1 per cent, before dipping in value. The shares of the company, at the time of writing stood at Rs 1,653.75 per piece, thanks to a gain of 0.74 per cent or Rs 12.10 per share.